U.S. Bank Review: A Diverse Product Suite That Impresses (2024)

U.S. Bank offers a competitive selection of banking products. There are plenty of rewards to entice customers to open multiple accounts, including fee-free money market accounts, preferred loan rates, and more.

Its key drawback is its low APYs, but that's true of all brick-and-mortar banks. If you can look past that, you'll find a lot of options, including some rare product offerings you don't see with many other banks.

U.S. Bank Review: A Diverse Product Suite That Impresses (1)

Member FDIC.

U.S. Bank

Rating image, 4.50 out of 5 stars.U.S. Bank Review: A Diverse Product Suite That Impresses (2)U.S. Bank Review: A Diverse Product Suite That Impresses (3)U.S. Bank Review: A Diverse Product Suite That Impresses (4)U.S. Bank Review: A Diverse Product Suite That Impresses (5)U.S. Bank Review: A Diverse Product Suite That Impresses (6)U.S. Bank Review: A Diverse Product Suite That Impresses (7)U.S. Bank Review: A Diverse Product Suite That Impresses (8)U.S. Bank Review: A Diverse Product Suite That Impresses (9)U.S. Bank Review: A Diverse Product Suite That Impresses (10)U.S. Bank Review: A Diverse Product Suite That Impresses (11)

4.50/5Our ratings are based on a 5 star scale.5 stars equals Best.4 stars equals Excellent.3 stars equals Good.2 stars equals Fair.1 star equals Poor.We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
U.S. Bank Review: A Diverse Product Suite That Impresses (12)U.S. Bank Review: A Diverse Product Suite That Impresses (13)U.S. Bank Review: A Diverse Product Suite That Impresses (14)U.S. Bank Review: A Diverse Product Suite That Impresses (15)U.S. Bank Review: A Diverse Product Suite That Impresses (16) = Best
U.S. Bank Review: A Diverse Product Suite That Impresses (17)U.S. Bank Review: A Diverse Product Suite That Impresses (18)U.S. Bank Review: A Diverse Product Suite That Impresses (19)U.S. Bank Review: A Diverse Product Suite That Impresses (20) = Excellent
U.S. Bank Review: A Diverse Product Suite That Impresses (21)U.S. Bank Review: A Diverse Product Suite That Impresses (22)U.S. Bank Review: A Diverse Product Suite That Impresses (23) = Good
U.S. Bank Review: A Diverse Product Suite That Impresses (24)U.S. Bank Review: A Diverse Product Suite That Impresses (25) = Fair
U.S. Bank Review: A Diverse Product Suite That Impresses (26) = Poor

Bottom Line

U.S. Bank offers strong relationship rewards to customers who open multiple accounts. It also offers a variety of checking accounts and some rare CD and loan options. Those interested in money market accounts will also appreciate that U.S. Bank has several to choose from.

Pros

  • Excellent selection of products
  • Relationship benefits for opening multiple accounts
  • Rare CD and loan options

Cons

  • Low APY on deposit accounts
  • Mixed reviews on customer service
  • Our methodology for scoring banks and credit unions revolves around evaluating key aspects such as annual percentage yield (APY), brand reputation, fees and minimum requirements, and additional perks.

    These criteria are weighted differently across various account types, ensuring a comprehensive assessment that reflects the competitive landscape and economic conditions.

    We strictly feature products that offer federal insurance and high customer satisfaction, keeping our recommendations unbiased by advertiser influence. This robust evaluation process helps us generate balanced, reliable best-of lists that guide consumers to top financial products.

    Learn more about how The Motley Fool Ascent rates bank accounts.

Checking accounts

U.S. Bank currently offers the following two personal checking accounts.

U.S. Bank Smartly® Checking

The U.S. Bank Smartly® Checking offers mobile check deposits, automated bill pay, and most other features you would expect, as well as an excellent overdraft protection program that offers fee forgiveness if you make a qualifying deposit to quickly correct an overdraft over $50. For overdrafts under $50, there is no fee. Customers can access their money for free at U.S. Bank ATMs as well as any ATM in the MoneyPass network.

There is a $6.95 monthly maintenance fee, but it can be waived in a variety of ways, such as by maintaining at least a $1,500 average balance, having a U.S. Bank credit card, or with monthly direct deposits of $1,000 or more.

Account holders with higher balances get access to the bank's Smart Rewards program, which has four tiers that come with benefits like waived non-bank ATM fees and other valuable perks. This account even earns a little bit of interest, although U.S. Bank doesn't disclose its rates online.

Ratings Methodology

Rates asof Oct 10, 2024

U.S. Bank Smartly® Checking

Read Review

U.S. Bank Review: A Diverse Product Suite That Impresses (27)

Member FDIC.

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3.50/5Our ratings are based on a 5 star scale.5 stars equals Best.4 stars equals Excellent.3 stars equals Good.2 stars equals Fair.1 star equals Poor.We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
U.S. Bank Review: A Diverse Product Suite That Impresses (38)U.S. Bank Review: A Diverse Product Suite That Impresses (39)U.S. Bank Review: A Diverse Product Suite That Impresses (40)U.S. Bank Review: A Diverse Product Suite That Impresses (41)U.S. Bank Review: A Diverse Product Suite That Impresses (42) = Best
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U.S. Bank Review: A Diverse Product Suite That Impresses (52) = Poor

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3.50/5Our ratings are based on a 5 star scale.5 stars equals Best.4 stars equals Excellent.3 stars equals Good.2 stars equals Fair.1 star equals Poor.We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
U.S. Bank Review: A Diverse Product Suite That Impresses (63)U.S. Bank Review: A Diverse Product Suite That Impresses (64)U.S. Bank Review: A Diverse Product Suite That Impresses (65)U.S. Bank Review: A Diverse Product Suite That Impresses (66)U.S. Bank Review: A Diverse Product Suite That Impresses (67) = Best
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U.S. Bank Review: A Diverse Product Suite That Impresses (75)U.S. Bank Review: A Diverse Product Suite That Impresses (76) = Fair
U.S. Bank Review: A Diverse Product Suite That Impresses (77) = Poor

Read Review

Special Offer

Earn up to $700 when you open a new U.S. Bank Smartly® Checking account and a Standard Savings account and complete qualifying activities. Subject to certain terms and limitations. Offer valid through June 27, 2024. Member FDIC. Offer may not be available if you live outside of the U.S. Bank footprint or are an existing client of U.S. Bank or State Farm.

APY

Undisclosed

Min. To Earn APY

$0.01

  • Overdraft protection tools and Overdraft Fee Forgiveness program
  • Opportunity to earn account welcome bonus
  • Wide variety of account tools
  • Zero fraud liability
  • Award-winning app
  • Fee waiver requirements
  • Account APY undisclosed

U.S. Bank is the fifth-largest bank in the U.S. in terms of assets. With its Smartly checking account you can earn special benefits when you enroll in the Smart Rewards™ program. With its digital security coverage, you are not liable for unauthorized transactions that are initiated online at usbank.com or through the U.S. Bank Mobile App as long as you let it know right away.

The monthly maintenance fee can be waived for customers who meet certain criteria. U.S. Bank also provides security alerts, personalized financial insights, and financial goal setting through its award-winning app.

U.S. Bank Safe Debit Account

The U.S. Bank Safe Debit Account doesn't offer checks (but it does offer a debit card) and it doesn't charge overdraft fees. The account comes with mobile and online banking tools, as well as mobile check deposit and bill pay. The account has a monthly maintenance fee of $4.95 that is not waivable.

Ratings Methodology

Rates asof Oct 10, 2024

U.S. Bank Safe Debit Account

Read Review

U.S. Bank Review: A Diverse Product Suite That Impresses (78)

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3.00/5Our ratings are based on a 5 star scale.5 stars equals Best.4 stars equals Excellent.3 stars equals Good.2 stars equals Fair.1 star equals Poor.We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
U.S. Bank Review: A Diverse Product Suite That Impresses (89)U.S. Bank Review: A Diverse Product Suite That Impresses (90)U.S. Bank Review: A Diverse Product Suite That Impresses (91)U.S. Bank Review: A Diverse Product Suite That Impresses (92)U.S. Bank Review: A Diverse Product Suite That Impresses (93) = Best
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U.S. Bank Review: A Diverse Product Suite That Impresses (103) = Poor

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3.00/5Our ratings are based on a 5 star scale.5 stars equals Best.4 stars equals Excellent.3 stars equals Good.2 stars equals Fair.1 star equals Poor.We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
U.S. Bank Review: A Diverse Product Suite That Impresses (114)U.S. Bank Review: A Diverse Product Suite That Impresses (115)U.S. Bank Review: A Diverse Product Suite That Impresses (116)U.S. Bank Review: A Diverse Product Suite That Impresses (117)U.S. Bank Review: A Diverse Product Suite That Impresses (118) = Best
U.S. Bank Review: A Diverse Product Suite That Impresses (119)U.S. Bank Review: A Diverse Product Suite That Impresses (120)U.S. Bank Review: A Diverse Product Suite That Impresses (121)U.S. Bank Review: A Diverse Product Suite That Impresses (122) = Excellent
U.S. Bank Review: A Diverse Product Suite That Impresses (123)U.S. Bank Review: A Diverse Product Suite That Impresses (124)U.S. Bank Review: A Diverse Product Suite That Impresses (125) = Good
U.S. Bank Review: A Diverse Product Suite That Impresses (126)U.S. Bank Review: A Diverse Product Suite That Impresses (127) = Fair
U.S. Bank Review: A Diverse Product Suite That Impresses (128) = Poor

Read Review

APY

N/A

Min. To Earn APY

N/A

  • No overdraft fees
  • Large branch and ATM network
  • Low opening deposit requirement
  • No check-writing ability
  • Monthly maintenance fee can't be waived
  • Doesn't pay interest
  • Not available in all states

The U.S. Bank Safe Debit Account is like a branch-based checking account, just without the checks.

Compare checking accounts

We recommend comparing checking accounts to make sure you're getting the best fit for you. Here's a list of our favorite accounts.

AccountAPYPromotionNext Steps

Open Account for Discover® Cashback Debit

OnDiscover Bank'sSecure Website.

Member FDIC.

Rating image, 5.00 out of 5 stars.U.S. Bank Review: A Diverse Product Suite That Impresses (130)U.S. Bank Review: A Diverse Product Suite That Impresses (131)U.S. Bank Review: A Diverse Product Suite That Impresses (132)U.S. Bank Review: A Diverse Product Suite That Impresses (133)U.S. Bank Review: A Diverse Product Suite That Impresses (134)U.S. Bank Review: A Diverse Product Suite That Impresses (135)U.S. Bank Review: A Diverse Product Suite That Impresses (136)U.S. Bank Review: A Diverse Product Suite That Impresses (137)U.S. Bank Review: A Diverse Product Suite That Impresses (138)U.S. Bank Review: A Diverse Product Suite That Impresses (139)

5.00/5Our ratings are based on a 5 star scale.5 stars equals Best.4 stars equals Excellent.3 stars equals Good.2 stars equals Fair.1 star equals Poor.We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
U.S. Bank Review: A Diverse Product Suite That Impresses (140)U.S. Bank Review: A Diverse Product Suite That Impresses (141)U.S. Bank Review: A Diverse Product Suite That Impresses (142)U.S. Bank Review: A Diverse Product Suite That Impresses (143)U.S. Bank Review: A Diverse Product Suite That Impresses (144) = Best
U.S. Bank Review: A Diverse Product Suite That Impresses (145)U.S. Bank Review: A Diverse Product Suite That Impresses (146)U.S. Bank Review: A Diverse Product Suite That Impresses (147)U.S. Bank Review: A Diverse Product Suite That Impresses (148) = Excellent
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U.S. Bank Review: A Diverse Product Suite That Impresses (152)U.S. Bank Review: A Diverse Product Suite That Impresses (153) = Fair
U.S. Bank Review: A Diverse Product Suite That Impresses (154) = Poor

0%

Min. to earn: N/A

Earn 1% cash back on up to $3,000 in debit card purchases each month (see details when you click 'Open Account')

Open Account for Discover® Cashback Debit

OnDiscover Bank'sSecure Website.

Open Account for Quontic High Interest Checking

OnQuontic'sSecure Website.

Member FDIC.

Rating image, 4.00 out of 5 stars.U.S. Bank Review: A Diverse Product Suite That Impresses (156)U.S. Bank Review: A Diverse Product Suite That Impresses (157)U.S. Bank Review: A Diverse Product Suite That Impresses (158)U.S. Bank Review: A Diverse Product Suite That Impresses (159)U.S. Bank Review: A Diverse Product Suite That Impresses (160)U.S. Bank Review: A Diverse Product Suite That Impresses (161)U.S. Bank Review: A Diverse Product Suite That Impresses (162)U.S. Bank Review: A Diverse Product Suite That Impresses (163)U.S. Bank Review: A Diverse Product Suite That Impresses (164)U.S. Bank Review: A Diverse Product Suite That Impresses (165)

4.00/5Our ratings are based on a 5 star scale.5 stars equals Best.4 stars equals Excellent.3 stars equals Good.2 stars equals Fair.1 star equals Poor.We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
U.S. Bank Review: A Diverse Product Suite That Impresses (166)U.S. Bank Review: A Diverse Product Suite That Impresses (167)U.S. Bank Review: A Diverse Product Suite That Impresses (168)U.S. Bank Review: A Diverse Product Suite That Impresses (169)U.S. Bank Review: A Diverse Product Suite That Impresses (170) = Best
U.S. Bank Review: A Diverse Product Suite That Impresses (171)U.S. Bank Review: A Diverse Product Suite That Impresses (172)U.S. Bank Review: A Diverse Product Suite That Impresses (173)U.S. Bank Review: A Diverse Product Suite That Impresses (174) = Excellent
U.S. Bank Review: A Diverse Product Suite That Impresses (175)U.S. Bank Review: A Diverse Product Suite That Impresses (176)U.S. Bank Review: A Diverse Product Suite That Impresses (177) = Good
U.S. Bank Review: A Diverse Product Suite That Impresses (178)U.S. Bank Review: A Diverse Product Suite That Impresses (179) = Fair
U.S. Bank Review: A Diverse Product Suite That Impresses (180) = Poor

up to 1.10%

Min. to earn: $1

High APY when you complete 10 or more qualifying debit card purchases each month

Open Account for Quontic High Interest Checking

OnQuontic'sSecure Website.

Business checking accounts

U.S. Bank currently offers the following three business checking options.

U.S. Bank Silver Business Checking

The U.S. Bank Silver Business Checking account is U.S. Bank's most affordable business checking option, with a $0 monthly maintenance fee and 125 free transactions per month (with a charge of $0.50 for each additional transaction). It also comes with $2,500 of free cash deposits (or 25 total monthly cash transactions, whichever comes first) per statement cycle. It has online and mobile banking features, including mobile bill pay. Account holders can access their cash for free at U.S. Bank ATMs, but will have to pay a fee to U.S. Bank and possibly also the ATM owner to use an out-of-network ATM.

Ratings Methodology

Rates asof Oct 10, 2024

U.S. Bank Silver Business Checking

Open Account for U.S. Bank Silver Business Checking

OnU.S. Bank'sSecure Website.

U.S. Bank Review: A Diverse Product Suite That Impresses (181)

Member FDIC.

Rating image, 4.00 out of 5 stars.U.S. Bank Review: A Diverse Product Suite That Impresses (182)U.S. Bank Review: A Diverse Product Suite That Impresses (183)U.S. Bank Review: A Diverse Product Suite That Impresses (184)U.S. Bank Review: A Diverse Product Suite That Impresses (185)U.S. Bank Review: A Diverse Product Suite That Impresses (186)U.S. Bank Review: A Diverse Product Suite That Impresses (187)U.S. Bank Review: A Diverse Product Suite That Impresses (188)U.S. Bank Review: A Diverse Product Suite That Impresses (189)U.S. Bank Review: A Diverse Product Suite That Impresses (190)U.S. Bank Review: A Diverse Product Suite That Impresses (191)

4.00/5Our ratings are based on a 5 star scale.5 stars equals Best.4 stars equals Excellent.3 stars equals Good.2 stars equals Fair.1 star equals Poor.We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
U.S. Bank Review: A Diverse Product Suite That Impresses (192)U.S. Bank Review: A Diverse Product Suite That Impresses (193)U.S. Bank Review: A Diverse Product Suite That Impresses (194)U.S. Bank Review: A Diverse Product Suite That Impresses (195)U.S. Bank Review: A Diverse Product Suite That Impresses (196) = Best
U.S. Bank Review: A Diverse Product Suite That Impresses (197)U.S. Bank Review: A Diverse Product Suite That Impresses (198)U.S. Bank Review: A Diverse Product Suite That Impresses (199)U.S. Bank Review: A Diverse Product Suite That Impresses (200) = Excellent
U.S. Bank Review: A Diverse Product Suite That Impresses (201)U.S. Bank Review: A Diverse Product Suite That Impresses (202)U.S. Bank Review: A Diverse Product Suite That Impresses (203) = Good
U.S. Bank Review: A Diverse Product Suite That Impresses (204)U.S. Bank Review: A Diverse Product Suite That Impresses (205) = Fair
U.S. Bank Review: A Diverse Product Suite That Impresses (206) = Poor

Rating image, 4.00 out of 5 stars.U.S. Bank Review: A Diverse Product Suite That Impresses (207)U.S. Bank Review: A Diverse Product Suite That Impresses (208)U.S. Bank Review: A Diverse Product Suite That Impresses (209)U.S. Bank Review: A Diverse Product Suite That Impresses (210)U.S. Bank Review: A Diverse Product Suite That Impresses (211)U.S. Bank Review: A Diverse Product Suite That Impresses (212)U.S. Bank Review: A Diverse Product Suite That Impresses (213)U.S. Bank Review: A Diverse Product Suite That Impresses (214)U.S. Bank Review: A Diverse Product Suite That Impresses (215)U.S. Bank Review: A Diverse Product Suite That Impresses (216)

4.00/5Our ratings are based on a 5 star scale.5 stars equals Best.4 stars equals Excellent.3 stars equals Good.2 stars equals Fair.1 star equals Poor.We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
U.S. Bank Review: A Diverse Product Suite That Impresses (217)U.S. Bank Review: A Diverse Product Suite That Impresses (218)U.S. Bank Review: A Diverse Product Suite That Impresses (219)U.S. Bank Review: A Diverse Product Suite That Impresses (220)U.S. Bank Review: A Diverse Product Suite That Impresses (221) = Best
U.S. Bank Review: A Diverse Product Suite That Impresses (222)U.S. Bank Review: A Diverse Product Suite That Impresses (223)U.S. Bank Review: A Diverse Product Suite That Impresses (224)U.S. Bank Review: A Diverse Product Suite That Impresses (225) = Excellent
U.S. Bank Review: A Diverse Product Suite That Impresses (226)U.S. Bank Review: A Diverse Product Suite That Impresses (227)U.S. Bank Review: A Diverse Product Suite That Impresses (228) = Good
U.S. Bank Review: A Diverse Product Suite That Impresses (229)U.S. Bank Review: A Diverse Product Suite That Impresses (230) = Fair
U.S. Bank Review: A Diverse Product Suite That Impresses (231) = Poor

Open Account for U.S. Bank Silver Business Checking

OnU.S. Bank'sSecure Website.

Special Offer

Earn up to a $400 bonus when you open a new, eligible U.S. Bank business checking account online with promo code Q4AFL24 and complete qualifying activities, subject to certain terms and limitations. Offer valid through January 15, 2025. Member FDIC.

APY

0%

Min. To Earn APY

N/A

  • No monthly fees
  • 125 free monthly transactions
  • Discounted checks
  • Low minimum deposit
  • Large branch and ATM network
  • Card payment processing and cash management services available
  • Not interest-bearing
  • Can be costly for businesses with high transaction volumes
  • Transaction limits

The U.S. Bank Silver Business Checking account is a good fit for small business owners who aren't ready to pay for a business checking account. Its feature list may not be as robust as some of its competitors, but it comes with all the tools you need to manage your funds as well as a decent number of free monthly transactions.

Read Full Review

U.S. Bank Gold Business Checking

The U.S. Bank Gold Business Checking account is one step above the Silver Business Checking. It has a $20 (waivable) monthly maintenance fee and 300 free transactions per month (with a charge of $0.45 for each additional transaction). Free cash deposits and transactions are increased with the Gold account -- you get $10,000 of free cash deposits (or 100 free cash transactions, whichever comes first) per statement cycle. Like U.S. Bank's other checking accounts, it comes with online and mobile banking, and it's free to use U.S. Bank ATMs with this account.

Ratings Methodology

Rates asof Oct 10, 2024

U.S. Bank Gold Business Checking

Open Account for U.S. Bank Gold Business Checking

OnU.S. Bank'sSecure Website.

U.S. Bank Review: A Diverse Product Suite That Impresses (232)

Member FDIC.

Open Account for U.S. Bank Gold Business Checking

OnU.S. Bank'sSecure Website.

Special Offer

Earn up to a $800 bonus when you open a new, eligible U.S. Bank business checking account online with promo code Q3AFL24 and complete qualifying activities, subject to certain terms and limitations. Offer valid through September 30, 2024. Member FDIC.

APY

0%

Min. To Earn APY

N/A

  • Monthly fee is waivable
  • 300 free transactions per month
  • $10,000 of free cash deposits per statement cycle, or 100 free cash transactions, whichever comes first
  • 50% discount on first check order with Deluxe, up to $100
  • Not interest bearing
  • Monthly free transaction and cash deposit limits

U.S. Bank Platinum Business Checking

The U.S. Bank Platinum Business Checking account is U.S. Bank's top-tier business checking account, offering the perks of the Gold Business Checking account plus extra perks. The Platinum Business Checking comes with 500 free transactions each month (with a fee of $0.40 for each additional transaction), and $20,000 in free cash deposits (or 200 free cash transactions, whichever comes first) per statement cycle. The monthly maintenance fee is $30, but like the Gold account, it is waivable if you meet certain conditions.

U.S. Bank says this account is best for "mature business with higher balances."

Ratings Methodology

Rates asof Oct 10, 2024

U.S. Bank Platinum Business Checking

Open Account for U.S. Bank Platinum Business Checking

OnU.S. Bank'sSecure Website.

U.S. Bank Review: A Diverse Product Suite That Impresses (233)

Member FDIC.

Open Account for U.S. Bank Platinum Business Checking

OnU.S. Bank'sSecure Website.

Special Offer

Earn up to a $900 bonus when you open a new, eligible U.S. Bank business checking account online with promo code Q4AFL24 and complete qualifying activities, subject to certain terms and limitations. Offer valid through January 15, 2024. Member FDIC.

APY

0%

Min. To Earn APY

N/A

  • Monthly maintenance fee is waivable
  • 500 free transactions per month
  • $20,000 in free cash deposits per statement cycle, or 200 free cash transactions, whichever comes first
  • 50% discount on first check order with Deluxe, up to $100
  • Free mobile check deposit
  • Monthly maintenance fee applies if not waived
  • Not interest bearing
  • Free monthly transaction and cash deposit limitations

Savings accounts

The U.S. Bank Standard Savings Account has a low monthly fee which you can waive in several ways. Its online and mobile banking tools mean you can set up custom alerts and recurring transfers to your savings from another linked U.S. Bank account.

The APY is low, even for a brick-and-mortar bank. Many of U.S. Bank's competitors offer higher rates to customers who bank large sums or open multiple accounts. U.S. Bank doesn't offer higher relationship rates on its savings account.

Rates asof Oct 10, 2024

U.S. Bank Standard Savings Account

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U.S. Bank Review: A Diverse Product Suite That Impresses (234)

Member FDIC.

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2.50/5Our ratings are based on a 5 star scale.5 stars equals Best.4 stars equals Excellent.3 stars equals Good.2 stars equals Fair.1 star equals Poor.We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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2.50/5Our ratings are based on a 5 star scale.5 stars equals Best.4 stars equals Excellent.3 stars equals Good.2 stars equals Fair.1 star equals Poor.We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
U.S. Bank Review: A Diverse Product Suite That Impresses (270)U.S. Bank Review: A Diverse Product Suite That Impresses (271)U.S. Bank Review: A Diverse Product Suite That Impresses (272)U.S. Bank Review: A Diverse Product Suite That Impresses (273)U.S. Bank Review: A Diverse Product Suite That Impresses (274) = Best
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U.S. Bank Review: A Diverse Product Suite That Impresses (284) = Poor

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Special offer

Earn up to $700 when you open a new U.S. Bank Smartly® Checking account and a Standard Savings account and complete qualifying activities. Subject to certain terms and limitations. Offer valid through June 27, 2024. Member FDIC. Offer may not be available if you live outside of the U.S. Bank footprint or are an existing client of U.S. Bank or State Farm.

APY

0.01% (as of 3/24/2023)

Min. To Earn APY

$25

  • Monthly fee can be waived
  • Low minimum
  • Great digital banking platforms
  • Large branch and ATM network
  • Monthly maintenance fee
  • Very low interest rate
  • No ATM reimbursement

The U.S. Bank Standard Savings Account is a great choice for savers who are more concerned with ease of access and a top-notch digital banking experience than maximizing the interest earned in their account.

Compare savings rates

Make sure you're getting the best account for you by comparing savings rates and promotions. Here are some of our favorite high-yield savings accounts to consider.

AccountAPYPromotionNext Steps

Open Account for American Express® High Yield Savings

OnAmerican Express'sSecure Website.

Member FDIC.

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4.00/5Our ratings are based on a 5 star scale.5 stars equals Best.4 stars equals Excellent.3 stars equals Good.2 stars equals Fair.1 star equals Poor.We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
U.S. Bank Review: A Diverse Product Suite That Impresses (296)U.S. Bank Review: A Diverse Product Suite That Impresses (297)U.S. Bank Review: A Diverse Product Suite That Impresses (298)U.S. Bank Review: A Diverse Product Suite That Impresses (299)U.S. Bank Review: A Diverse Product Suite That Impresses (300) = Best
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U.S. Bank Review: A Diverse Product Suite That Impresses (305)U.S. Bank Review: A Diverse Product Suite That Impresses (306)U.S. Bank Review: A Diverse Product Suite That Impresses (307) = Good
U.S. Bank Review: A Diverse Product Suite That Impresses (308)U.S. Bank Review: A Diverse Product Suite That Impresses (309) = Fair
U.S. Bank Review: A Diverse Product Suite That Impresses (310) = Poor

4.10%

Rate info4.10% annual percentage yield as of October 10, 2024

Min. to earn: $0

N/A

Open Account for American Express® High Yield Savings

OnAmerican Express'sSecure Website.

Open Account for SoFi Checking and Savings

OnSoFi'sSecure Website.

Member FDIC.

Rating image, 4.50 out of 5 stars.U.S. Bank Review: A Diverse Product Suite That Impresses (312)U.S. Bank Review: A Diverse Product Suite That Impresses (313)U.S. Bank Review: A Diverse Product Suite That Impresses (314)U.S. Bank Review: A Diverse Product Suite That Impresses (315)U.S. Bank Review: A Diverse Product Suite That Impresses (316)U.S. Bank Review: A Diverse Product Suite That Impresses (317)U.S. Bank Review: A Diverse Product Suite That Impresses (318)U.S. Bank Review: A Diverse Product Suite That Impresses (319)U.S. Bank Review: A Diverse Product Suite That Impresses (320)U.S. Bank Review: A Diverse Product Suite That Impresses (321)

4.50/5Our ratings are based on a 5 star scale.5 stars equals Best.4 stars equals Excellent.3 stars equals Good.2 stars equals Fair.1 star equals Poor.We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
U.S. Bank Review: A Diverse Product Suite That Impresses (322)U.S. Bank Review: A Diverse Product Suite That Impresses (323)U.S. Bank Review: A Diverse Product Suite That Impresses (324)U.S. Bank Review: A Diverse Product Suite That Impresses (325)U.S. Bank Review: A Diverse Product Suite That Impresses (326) = Best
U.S. Bank Review: A Diverse Product Suite That Impresses (327)U.S. Bank Review: A Diverse Product Suite That Impresses (328)U.S. Bank Review: A Diverse Product Suite That Impresses (329)U.S. Bank Review: A Diverse Product Suite That Impresses (330) = Excellent
U.S. Bank Review: A Diverse Product Suite That Impresses (331)U.S. Bank Review: A Diverse Product Suite That Impresses (332)U.S. Bank Review: A Diverse Product Suite That Impresses (333) = Good
U.S. Bank Review: A Diverse Product Suite That Impresses (334)U.S. Bank Review: A Diverse Product Suite That Impresses (335) = Fair
U.S. Bank Review: A Diverse Product Suite That Impresses (336) = Poor

up to 4.30%²

Rate infoYou can earn the maximum APY by having Direct Deposit (no minimum amount required) or by making $5,000 or more in Qualifying Deposits every 30 days. See SoFi Checking and Savings rate sheet at: https://www.sofi.com/legal/banking-rate-sheet.

Min. to earn: $0

New customers can earn up to a $300 bonus with qualifying direct deposits!¹

Open Account for SoFi Checking and Savings

OnSoFi'sSecure Website.

Open Account for Capital One 360 Performance Savings

OnCapital One'sSecure Website.

Member FDIC.

Rating image, 4.50 out of 5 stars.U.S. Bank Review: A Diverse Product Suite That Impresses (338)U.S. Bank Review: A Diverse Product Suite That Impresses (339)U.S. Bank Review: A Diverse Product Suite That Impresses (340)U.S. Bank Review: A Diverse Product Suite That Impresses (341)U.S. Bank Review: A Diverse Product Suite That Impresses (342)U.S. Bank Review: A Diverse Product Suite That Impresses (343)U.S. Bank Review: A Diverse Product Suite That Impresses (344)U.S. Bank Review: A Diverse Product Suite That Impresses (345)U.S. Bank Review: A Diverse Product Suite That Impresses (346)U.S. Bank Review: A Diverse Product Suite That Impresses (347)

4.50/5Our ratings are based on a 5 star scale.5 stars equals Best.4 stars equals Excellent.3 stars equals Good.2 stars equals Fair.1 star equals Poor.We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
U.S. Bank Review: A Diverse Product Suite That Impresses (348)U.S. Bank Review: A Diverse Product Suite That Impresses (349)U.S. Bank Review: A Diverse Product Suite That Impresses (350)U.S. Bank Review: A Diverse Product Suite That Impresses (351)U.S. Bank Review: A Diverse Product Suite That Impresses (352) = Best
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U.S. Bank Review: A Diverse Product Suite That Impresses (357)U.S. Bank Review: A Diverse Product Suite That Impresses (358)U.S. Bank Review: A Diverse Product Suite That Impresses (359) = Good
U.S. Bank Review: A Diverse Product Suite That Impresses (360)U.S. Bank Review: A Diverse Product Suite That Impresses (361) = Fair
U.S. Bank Review: A Diverse Product Suite That Impresses (362) = Poor

4.10%

Rate infoSee Capital One website for most up-to-date rates. Advertised Annual Percentage Yield (APY)is variable and accurate as of Sept. 27, 2024. Rates are subject to change at any time before or after account opening.

Min. to earn: $0

N/A

Open Account for Capital One 360 Performance Savings

OnCapital One'sSecure Website.

Certificates of deposit

U.S. Bank offers four types of certificates of deposit (CDs), which are explained in detail below.

U.S. Bank Standard CDs

U.S. Bank's Standard CDs have low minimum deposits and the terms range from one month to five years. All accounts are FDIC insured and rates are locked in for the full CD term, so if you decide to withdraw funds before the term is up, you'll pay an early withdrawal penalty. Rates are pretty average for brick-and-mortar CDs, and you can earn higher APYs by choosing a longer term.

Rates as of Oct. 4, 2024

APY = Annual Percentage Yield

U.S. Bank Review: A Diverse Product Suite That Impresses (363)

U.S. Bank Standard CD

MINIMUM DEPOSIT $500

6 Mo. APY9 Mo. APY1 Yr. APY1.5 Yr. APY2 Yr. APY3 Yr. APY4 Yr. APY5 Yr. APY
0.05%0.05%0.05%0.05%0.05%0.10%0.15%0.25%

U.S. Bank CD Specials

U.S. Bank's CD Specials offer promotional rates on unusual CD terms, such as 19 months or 27 months. These rates are higher than those on its traditional CDs, but you do need a little more money to open one. Like the traditional CDs, CD Specials are FDIC-insured and have APYs that remain the same over the whole CD term.

U.S. Bank Step Up CD

U.S. Bank offers a single 28-month step-up CD where the APY rises automatically every seven months. Rates, including the scheduled rate increases, are locked in at the time you open the CD. The minimum deposit is slightly higher than the traditional CDs, but it's not out of line with what other brick-and-mortar banks require.

U.S. Bank Trade Up CDs

U.S. Bank offers two Trade Up CDs, one with a 30-month term and one with a 60-month term. These are bump-up CDs, which are similar to step-up CDs, except you have the freedom to decide when your rates increase. If rates go up over the course of your CD term, you may request a one-time rate increase and your APY will stay at this new level for the remainder of the term. This isn't a common type of CD, so Bank of America is worth a closer look if you're interested in it.

Compare CD rates

If you're undecided on a U.S. Bank CD, take a peek at what other banks are offering and compare available terms and APYs.

Rates as of Oct. 4, 2024

Bank & CD OfferAPYTermMin. DepositNext Steps

Discover® Bank CD

Member FDIC.

APY:4.10%Term:1 YearMin. Deposit:$2,500

Open Account for Discover® Bank CD

OnDiscover Bank'sSecure Website.

LendingClub CD

Member FDIC.

APY:4.70%Term:10 MonthsMin. Deposit:$2,500

Open Account for

OnSecure Website.

Quontic CD

Member FDIC.

APY:4.60%Term:6 MonthsMin. Deposit:$500

Open Account for

OnSecure Website.

Money market accounts

There are four U.S. Bank money market accounts.

Platinum Select Money Market Savings

This is U.S. Bank's top-tier money market account and is only available to Platinum Checking account customers. Its rates are similar to U.S. Bank's Standard Savings account, though customers with a six-figure balance can earn more.

Package Money Market Savings

The Package Money Market Savings account is only available to those with a Gold Checking account. Its tiered APY system is comparable to the Platinum Select Money Market Savings account.

Elite Money Market Account

The Elite Money Market account has a higher balance requirement than the two money market accounts listed above, but its interest rates are about the same. This account has a monthly maintenance fee and you'll need a five-figure sum to waive it.

Retirement Money Market Account

The Retirement Money Market Account is available to customers who have an IRA through U.S. Bank. There's no monthly maintenance fee on this account, but as it's for retirement savings, you can't withdraw the funds before the age of 59 1/2 without paying a penalty.

Customer service and experience

U.S. Bank has an A+ rating with the Better Business Bureau, yet it boasts an unimpressive 1.7 out of 5 stars on Trustpilot. J.D. Power put it right in the middle, giving it three out of five stars in its latest U.S. Retail Banking Satisfaction Study. These mixed reviews make it more difficult to get a sense of U.S. Bank's customer service than some of its competitors'.

Customer service may not be a huge priority for you if you rarely interact with anyone at your bank, but if U.S. Bank's mixed ratings concern you, you can always reach out to the bank directly, ask any questions you have, and assess its customer service for yourself.

Relationship benefits

U.S. Bank offers a plethora of bonuses to its customers, including fee-free money market accounts when you open select checking accounts. It also gives preferred rates on personal loans, auto loans, and home equity loans and lines of credit. U.S. Bank mortgage customers can also look forward to a discount on their rates if they open a Gold or Platinum Checking account.

Gold and Platinum Checking account owners who want to invest through a U.S. Bank self-directed brokerage account will receive 100 free trades. Platinum Checking customers pay no annual fees on home equity lines of credit (HELOCs) and receive new account bonuses on select U.S. Bank credit cards.

The one perk that is missing is relationship rates on savings accounts, though Gold and Platinum Checking customers can earn relationship rates if they open a U.S. Bank money market account instead.

Learn more about U.S. Bank's Promotions of 2024

A promotion can make an already great account look even better. Take a look at the bonuses U.S. Bank offers to see if one is right for you.

See U.S. Bank's promotions

Alternatives to U.S. Bank

If U.S. Bank doesn't appeal to you, one of these other banks might.

Bank of America

Bank of America is a large, national brick-and-mortar bank with relationship benefits that can rival U.S. Bank's. Customers who open multiple accounts are eligible for higher APYs on deposit accounts and they can also score discounts on loan products. Bank of America only offers a single checking account, but it has three flavors that you can switch between as needed, so you still have a lot of flexibility.

Axos Bank

Axos Bank is an online bank, so it's able to offer higher APYs and no monthly maintenance fees on its accounts. It has five checking accounts as well, including interest-bearing accounts, so it's competitive with U.S. Bank in this respect. The bank also offers savings, CD, and money market accounts as well as loan products. This is a greater variety of products than you see with most online banks, so it's worth considering if you want to do all your banking in one place.

Is U.S. Bank right for you?

U.S. Bank is a good choice for you if:

  • You plan to open multiple accounts with the bank.
  • You like having a lot of options so you can choose the account that best matches your needs.
  • You're interested in rare types of CDs or CDs with unusual terms.
U.S. Bank Review: A Diverse Product Suite That Impresses (2024)

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